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SmarTrend Watching for Potential Rebound in Shares of Perkinelmer Inc After 7.16% Loss

By James Quinn

Perkinelmer Inc (NYSE:PKI) traded in a range yesterday that spanned from a low of $86.76 to a high of $89.78. Yesterday, the shares fell 7.2%, which took the trading range below the 3-day low of $94.10 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Perkinelmer Inc on June 6th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $90.71. Since that recommendation, shares of Perkinelmer Inc have risen 5.1%. We continue to monitor PKI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Perkinelmer Inc has traded in a range of $71.83 to $103.00 and is now at $88.51, 23% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Keywords: rebounders perkinelmer inc

Ticker(s): PKI